With a Gross Domestic Product (GDP) of $25.35 trillion, the United States is by far the world’s largest economy in 2022. China followed with a GDP of $19.91 trillion.
According to the report released by CEOWorld Magazine, both the United States and China account for almost 50 percent of the world’s economy.
Other countries with a large economy on the top 20 list include Japan which was ranked in third place with $4.91 trillion, Germany in fourth place with $4.26 trillion and India came fifth with $3.35 trillion.
The United Kingdom took the sixth position with $3.38 trillion, followed by France with $2.94 trillion, Canada with $2.22 trillion, Italy with $2.06 trillion and Brazil with $1.83 trillion in the seventh, eighth, night and tenth positions respectively.
Investors King learnt that the difference between Japan and China which stood in second place was about $15 trillion while the difference between Japan in third place and the United States in the first place was more than $20 trillion.
A closer analysis shows that Germany maintains its leadership as the largest economy in Europe with a good prospect to beat Japan to third place.
Some of the upsets in the full list include Switzerland which pull Taiwan off the top 20 and moved into the 20th position.
Similarly, India finally overtakes the United Kingdom to become the world’s fifth largest economy.
Global Gross Domestic Product (GGDP) amounts to almost $94 trillion with the United States making up more than one-fifth of this figure.
The combination of the economies of the United States and China accounts for $45.26 trillion, representing 47 percent of the world’s economy.
The list of 20 largest economies has however created mixed feelings among analysts and economic observers.
While some analysts welcome the consistency of countries like India and Switzerland, some are worried that the higher concentration of the world economy in the United States and China could pose an economic danger to the world if both or either of the two countries experienced an economic mishap.
